Key Takeaways:
PENGU surged over 300% in June, pushing its market cap to $1.8 billion and entering the top 10 meme coins.
Strong community backing and NFT roots are fueling its rise, with support from major platforms like Revolut and Binance US.
An ETF application by Canary adds bullish momentum, but analysts warn that hype-driven rallies can lead to sharp corrections.
Pudgy Penguins (PENGU) surged by over 300% by the end of June, becoming one of the most talked-about meme coins in recent weeks.
Throughout most of June, PENGU traded in a tight range around $0.001. It then jumped to $0.014 in just a few days, followed by a short consolidation near $0.015. The token later climbed to over $0.020 and crossed the $0.030 mark on July 13.
Source: TradingView
Can PENGU Hit $1 This Summer?
Following the rally, PENGU climbed to the sixth spot among meme coins by market cap, reaching $1.8 billion as of July 14. It surpassed both SPX900 (SPX) and Fartcoin (FARTCOIN).
If PENGU reaches $2 billion, it could overtake Bonk (BONK) — currently the largest meme coin on Solana (SOL). That would also make Pudgy Penguins the first top meme coin directly tied to an NFT collection.
Source: GeckoTerminal
As some in the crypto community have pointed out, for Pudgy Penguins to reach a $1 price, its market cap would need to exceed $60 billion. With the current valuation at $1.8 billion, that’s still a long way off. Though some believe it’s not entirely out of reach.
Initial analyst targets included $0.026, followed by a correction to the $0.020 zone before a fresh leg up. Instead, the price broke through $0.030 without hesitation. Now, all eyes are on the $0.040 resistance.
Much depends on whether the token can hold above $0.025–$0.030. If buyers defend this level, some analysts see potential for a $5 billion market cap.
What’s Fueling the Bullish Momentum?
One key factor driving PENGU’s price is its chart structure. After a strong launch in December 2024, the token entered an accumulation phase between February and April. It tested the $0.015 level in May before pulling back slightly.
Source: TradingView
Of course, technical indicators alone aren’t enough. Without continued development from the team, the coin could’ve just kept falling. But instead, at the end of June, Pudgy Penguins became available for trading in the Revolut app — one of the largest fintech platforms in Europe.
Equally important is community strength. Meme coins thrive on engagement, and PENGU has plenty. Its NFT origins gave it a loyal base, visible on X (formerly Twitter) through penguin avatars used by numerous influencers.
The penguin hype has gone viral. Other major crypto projects like Coinbase, Polkadot, and Raydium have embraced the penguin theme in their own posts.
Even Binance US joined the fun, adding to the cultural momentum around PENGU.
ETF Hype Adds Fuel, but Risks Remain
One of the main catalysts behind PENGU’s recent price surge was the announcement of a spot ETF application filed by asset management firm Canary. The proposal was officially acknowledged by the U.S. Securities and Exchange Commission (SEC) and is now under review. While this doesn’t guarantee approval, the move significantly boosted sentiment around the token.
The news also positioned PENGU as more than just another meme coin — it hinted at potential institutional recognition. However, this kind of momentum often comes with risks. Some traders warn that the current rally could be driven more by speculation than fundamentals, especially given how meme coins tend to react strongly to headlines.
There’s also the risk of a “sell-the-news” dip if ETF-related expectations don’t materialize quickly. Still, many analysts see long-term growth potential for Pudgy Penguins, especially if the project continues to innovate and expand beyond its NFT roots.
The post PENGU Breaks the Ice — Will It Be the Top Meme Coin of Summer 2025? appeared first on Cryptonews.
